U.S. President Donald Trump
U.S. President Donald Trump voiced support for Argentina on Tuesday amid a worsening economic crisis in Latin America's third largest economy.
Trump said he spoke earlier in the day with Argentine President Mauricio Macri and ''reaffirmed the United States’ strong support for Argentina during this trying time for them."
"I have confidence in President Macri’s leadership, and I strongly encourage and support his engagement with the International Monetary Fund to strengthen Argentina’s monetary and fiscal policies to tackle the country’s current economic challenges," Trump said in a statement.
Argentina's central bank Tuesday sought to stall the worsening depreciation of the Argentine peso, selling off $100 million in reserves. The currency has lost roughly 50 percent of its value against the strengthening dollar this year, and continued to fall about 3 percent despite the bank's action.
Marci announced emergency measures Monday to combat the crisis, including a new tax on exports and steep budget cuts.
Argentine officials are in Washington for negotiations with International Monetary Fund officials. Buenos Aires is seeking to have the fund release $50 billion in standby credit quicker than initially agreed.
Argentina's economic woes have raised the prospect of a prolonged fiscal recession.
Argentine President Mauricio Macri said on Monday that the government would ask exporters, who have benefited from a sharp depreciation in the peso currency, to contribute more to the country's fiscal accounts as it aims to cut its budget deficit.In a television address, Macri did not specify what measures the government would take, but said that while export taxes were "a bad tax", the current moment is an "emergency." Treasury Minister Nicolas Dujovne was expected to announce details of policy changes later on Monday.The agriculture ministry said in a resolution in the government's official gazette it had decided to modify export taxes on grains, oilseed and their byproducts. Argentina is the world's top exporter of soy meal and soy oil, and a leading shipper of corn, wheat and raw soybeans. IMF says working with Argentina to strengthen Fund-supported programGermany hopeful Argentine economy will stabilize after IMF deal
Argentina's Macri says to ask more of exporters in austerity push
The International Monetary Fund said on Friday that it was working closely with Argentine authorities to strengthen the country's IMF-supported economic program, expressing confidence Argentina would overcome its present difficulties."As the (IMF) managing director stressed, Argentina has the full support of the Fund and we are confident that the strong commitment and determination of the Argentine authorities will help the country overcome the current difficulties," IMF spokesman Gerry Rice said in a statement.Rice added that IMF chief Christine Lagarde, Fund staff and Argentine Treasury Minister Nicolas Dujovne and his team would meet on Tuesday for talks. Germany hopeful Argentine economy will stabilize after IMF deal
IMF says working with Argentina to strengthen Fund-supported program
Germany welcomes a financing deal between Argentina and the International Monetary Fund (IMF) and hopes the two sides will find solutions to stabilise the economic situation in the South American country, a foreign ministry spokeswoman said on Friday."Argentina and the IMF are holding constructive talks. We assume that the IMF and Argentina will find good solutions," the spokeswoman said during a regular government news conference. Three sought for 'xenophobic' attack on migrant in eastern German townGermany, seeking independence from US, pushes cyber security researchGermany returns remains of Namibian genocide victimsGermany tells drugmakers to check supply chains for no-deal Brexit risksClashes in eastern Germany leave 20 injured
Germany hopeful Argentine economy will stabilize after IMF deal